Financial Performance - For the year ending December 31, 2024, the company's profit attributable to shareholders decreased by 11.5% to RMB 1,677,600,000 from RMB 1,895,700,000 in the previous year[4]. - The company's EBITDA was RMB 8,525,300,000, a decrease of 4.5% compared to RMB 8,931,300,000 last year[4]. - The total revenue for the year was RMB 24,270,499,000, down from RMB 24,519,374,000 in the previous year, representing a decline of approximately 1.0%[5]. - The gross profit for the fiscal year 2024 was RMB 8,989,098,000, slightly down from RMB 9,000,753,000 in 2023, indicating a stable gross margin[18][19]. - The net profit attributable to shareholders for 2024 was RMB 1,677,600,000, compared to RMB 1,895,681,000 in 2023, reflecting a decrease of approximately 11.5%[19][22]. - The company's operating profit for 2024 was RMB 7,528,297,000, down from RMB 7,841,632,000 in 2023, reflecting a decrease of about 4%[18][19]. - The total tax expense for the year is RMB 812,083,000, a decrease of 15.8% from RMB 964,112,000 in the previous year[26]. - The basic earnings per share for the year is RMB 1.567694 billion, down from RMB 1.825397 billion in the previous year, reflecting a decrease of 14.1%[29]. Dividends and Shareholder Returns - The company proposed a final dividend of HKD 0.091 per share, with a total annual dividend of HKD 0.161 per share[4]. - The proposed final dividend per share is HKD 0.091, an increase from HKD 0.087 in the previous year, resulting in a total proposed dividend of RMB 1,474,902,000[26]. - The board proposed a final dividend of HKD 0.091 per share for the fiscal year ending December 31, 2024, subject to shareholder approval[114]. Assets and Liabilities - The total assets as of December 31, 2024, amounted to RMB 166,571,603,000, compared to RMB 165,493,193,000 in the previous year[9]. - Total equity as of December 31, 2024, is RMB 54,133,475,000, an increase from RMB 31,171,095,000 in 2023[10]. - Total liabilities decreased slightly to RMB 110,609,173,000 from RMB 111,359,718,000 year-over-year[10]. - The company’s bank and other borrowings decreased to RMB 10,366,940,000 from RMB 13,145,188,000[10]. - The company’s total non-current liabilities increased to RMB 68,861,047,000 from RMB 67,340,367,000[10]. - The company’s total current liabilities decreased to RMB 42,498,671,000 from RMB 43,268,806,000[10]. - The group recorded revenue of RMB 828,200,000 from integrated governance projects, a slight decrease from RMB 839,900,000 in the previous year, with net profit from these projects dropping to RMB 490,000,000[61]. Revenue Streams - The company reported a significant increase in revenue from wastewater and recycled water treatment services, reaching RMB 9,178,030,000 in 2024, up from RMB 8,643,409,000 in 2023, marking a growth of 6.2%[22]. - The revenue from construction services decreased significantly to RMB 3,444,184,000 in 2024 from RMB 5,380,463,000 in 2023, a decline of approximately 36.1%[22]. - The revenue from urban services increased to RMB 5,310,493,000 in 2024, compared to RMB 4,343,559,000 in 2023, showing a growth of 22.2%[22]. - The total interest income from service concession arrangements was RMB 3,100,665,000 in 2024, up from RMB 3,023,301,000 in 2023, indicating a positive trend in this revenue stream[22]. - The water treatment services segment generated revenue of RMB 12,249.2 million, an increase of 5% from RMB 11,622.2 million in 2023[45]. - The technology services and equipment sales segment reported revenue of RMB 2,549.4 million, a 4% increase from RMB 2,459.1 million in 2023[45]. Operational Efficiency and Management - Management and financial expenses have been continuously reduced, contributing to improved operational efficiency[4]. - The company has been recognized as the top influential enterprise in China's water industry for 14 consecutive years[4]. - The company is actively promoting the research and development of new technologies and processes, including AOA, to enhance water plant quality and efficiency[4]. - The company has changed its functional currency from HKD to RMB to better reflect its economic substance[12]. - The group aims to enhance customer communication and experience, focusing on responsible marketing and improving customer satisfaction[105]. - The group is committed to building a sustainable development partner network, integrating sustainability into the entire lifecycle management of suppliers[105]. Employee and Corporate Governance - As of December 31, 2024, the total employee cost was RMB 5,615,717,000, an increase from RMB 5,330,504,000 for the previous year[107]. - The group employed 85,870 employees as of December 31, 2024, including 67,219 from North Control Urban Resources[108]. - The board consists of seven executive directors, one non-executive director, and five independent non-executive directors as of the announcement date[128]. - The audit committee, consisting of three independent non-executive directors, has reviewed and approved the financial results for the year ending December 31, 2024[119]. Future Outlook and Strategic Initiatives - The group has planned a systematic digital transformation project for 2024, focusing on operational efficiency and data service analysis, aiming for comprehensive digital transformation in financial management[103]. - The establishment of two technology platforms, North Water Technology and North Water Cloud Service, aims to enhance sustainable development and digital transformation in the water industry[102]. - The company will suspend share transfer registration from June 12 to June 13, 2025, to qualify for the proposed final dividend[116].
北控水务集团(00371) - 2024 - 年度业绩